Following is the current assets and current liabilities portion of the balance sheet of Caribou Coffee for the years ended January 1, 2012, and January 2, 2011:

Required
Determine the company's current ratio for each fiscal year. What do the ratios indicate about the liquidity of the company? What were the major causes for any changes in liquidity?

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Caribou Coffee Company, Inc. and Affiliates Consolidated Balance Sheets January 1, 2012 January 2, 201 In thousands except per share data Current assets Cash and cash equivalents Accounts receivable, net Other receivables, net Inventories Deferred tax assetscurrent Prepaid expenses and other current assets 44,495 14,646 1.743 22,965 6,766 1,514 92,129 S 23,092 8,096 1,227 25,931 1,122 59,468 Total current assets Property and equipment, net of accumulated 41,075 837 depreciation and amortization Restricted cash Deferred tax assets non-current Other assets 36,965 13,947 323 $143,364 345 $101,725 Total assets Current liabilities Accounts payable Accrued compensation Accrued expenses Deferred revenue $ 10,480 6,272 8,502 8,591 $ 33,845 $ 8,080 5,954 6,916 8,726 S 29.676 Total current liabilities